Ryan Lowery is busy at work. Engines roar, the sound of a local small business owner hard at work.
"The name of my business is Flatlander Outdoor, I do lawn and landscaping," says Lowery.
Some experts say if small business owners like Lowery are ambitious now could be their time to seize an opportunity.
"50 percent of Fortune 500 companies started in a recession or a depression, and there's a reason for that," says entrepreneur Rhonda Abrams. "It's because there are many opportunities, your competitors are weaker, and if you're planning on hiring there's great talent out there who are eager to work."
She began as a small business owner herself. Abrams started three successful companies, including the Planning Shop, which creates content for small businesses. She advises those looking to follow in her footsteps to start slow while not shying away from risks.
"I was a self-employed individual, I started with a part-time worker, we worked from 10 to 20 hours a week for $10 an hour at my kitchen table. But it was taking that first step to growing my own company and now I've had dozens of employees over the last few years."
Lowery's not quite ready to hire other employees, yet. But he is seeking help.
"It's challenging at times," says Lowery.
To make sure he grows his business appropriately, Lowery is getting advice from the Texas Tech Small Business Development Center.
"The Small Business Development Center provides confidential counseling for anyone starting a business as well as existing businesses," explains James Wilhelm, who works at the Center. The staff knows they're dealing with an important group.
"Small businesses are responsible for two-thirds of the job growth, according to 2007 statistics, and as a result, they're the leading reason we have job growth in the U.S.," says Wilhelm.
To put it in perspective, there are an estimated 20 million small businesses without employees. If one percent hired one new employee it would create 200,000 new jobs.
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TTU Small Business Development CenterIntuit Small BusinessThe Planning Shop
